please I want to use weighted average method, in Excel also can you please explain...
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please I want to use weighted average method, in Excel
also can you please explain what the material cost, and conversion cost for the ending WIP will be, also the percentages, would both percentages be 45% for both material and conversion
Winter 2020 a) The Jackpots Dreams Cards Company is a card manufacturer. All direct materials are added at the beginning of production in the Finishing Department. Conversion costs are applied to all of Proball Trading Cards' products at an even rate throughout the manufacturing process. For August, the beginning work in process inventory for the Finishing Department was 9,600 units that averaged 65 percent complete. Ending work in process inventory was 18,500 units averaging 45 percent complete. Production data shows 188,400 units were started during the period. Beginning work in process inventory costs totaled $11,232 including $7.296 for conversion costs. For the month of August, additional costs totaling $75,264 for direct materials and $111,034 for conversion costs were added in the production department during the period, 1) Prepare in good form a process report. 2) Prepare the journal entry to move costs to finished goods. 3) Prepare any journal entry, if required, for costs remaining in WIP
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